Trade war escalates again! The US uses labor issues to redraw the tariff map.
2026-06-03 20:13:31
The Trump administration has once again wielded the tariff stick, using the pretext of cracking down on forced labor to introduce a new tariff plan, setting tiered tariffs for dozens of major trading partners around the world and triggering a new round of global trade frictions.
Previously, in February of this year, the U.S. Supreme Court ruled to repeal the "Tariff Liberation Day" series of tariff bills previously enacted by Trump. After the old tariff system was forced to be abolished, the U.S. immediately used a completely new reason to reconstruct tariff rules and launched a new round of trade protectionism.
On Tuesday, the office of U.S. Trade Representative Greer officially disclosed the details of the tariffs . These tariffs are the result of a special trade investigation launched by the U.S. in March. All 60 trading partners covering 99.4% of U.S. imports were included in the investigation list. Before the tariffs are officially imposed, the statutory procedures, such as public review, must be completed.
The U.S. unilaterally asserted that all the partner countries on the list have significant loopholes in their legislation or implementation of laws related to forced labor, making it impossible to control the inflow of illegal goods into the U.S. market at the source.
In terms of tariff classification, the US adopts a two-tiered tariff standard: goods imported into the US from 45 economies, including China, India, Japan, and Brazil, are subject to a uniform 12.5% tariff.
The 10% benchmark tariff applies to 16 countries and regions, including Canada, the European Union, the United Kingdom, Mexico, and Argentina. The US says the latter have introduced some corrective measures or made relevant written commitments.
Meanwhile, beef, coffee, tomatoes, and other products received tariff exemptions. The U.S. also included supplementary clauses that if trading countries purchase sufficient quantities of U.S. textiles, they can apply for tariff reductions on the corresponding categories of exported goods.
The US is trying to find justification for the new regulations. Greer stated that labor regulations vary from country to country, and some manufacturers rely on non-compliant employment practices to reduce production costs, putting US companies that adhere to compliance standards in unfair competition and causing continuous damage to the interests of US workers.
In his statement, Greer stated bluntly that the United States cannot tolerate the distorted competitive environment in global trade and will use tariffs to correct trade imbalances.
However, this unilateral imposition of tariffs has been collectively rejected by many countries.
my country explicitly denies the existence of any forced labor issues, directly accusing the United States of using human rights issues for political manipulation and the imposition of arbitrary trade barriers.
The EU stated that the tariffs lacked legal basis and would continue to adhere to the bilateral trade agreement previously reached with the US;
The UK stated that it has implemented comprehensive anti-slavery legislation and continues to improve global supply chain governance;
Indian industry analysts pointed out that the tariffs are essentially a tool for the US to exert pressure, and suggested that India defend itself from a legal perspective and follow Malaysia's example by suspending bilateral free trade negotiations.
In fact, this is not the first time Trump has imposed temporary tariffs. After the court overturned the old tariffs, the White House introduced a 10% temporary global tariff, which was originally planned to be raised to 15% later. At present, the temporary tariff will expire in July, and whether it will be extended depends on the vote of Congress.
The implementation of widespread tariffs will inevitably raise US import costs, increase the risk of domestic inflation, and likely lead to retaliatory measures from trading partners, posing a challenge to the stability of the global industrial chain.
This rule is likely to take effect in late July (the original 10% global temporary tariff expires on July 24), to replace the soon-to-expire temporary tariff.
Looking at past precious metal market trends, the impact of the trade war on precious metals is as follows: if there is no particular panic in the market, precious metals will still move in the direction of market interest rates, and most of the time they will move in the opposite direction to the US dollar index. However, if there is a panic sell-off of assets caused by the trade war, stocks, bonds and currencies are likely to fall across the board, and gold will also fall in tandem.
Previously, in February of this year, the U.S. Supreme Court ruled to repeal the "Tariff Liberation Day" series of tariff bills previously enacted by Trump. After the old tariff system was forced to be abolished, the U.S. immediately used a completely new reason to reconstruct tariff rules and launched a new round of trade protectionism.
Background to the new rule: The Supreme Court overturned the old tax rules, and the US changed its "pretext" to restart taxation.
On Tuesday, the office of U.S. Trade Representative Greer officially disclosed the details of the tariffs . These tariffs are the result of a special trade investigation launched by the U.S. in March. All 60 trading partners covering 99.4% of U.S. imports were included in the investigation list. Before the tariffs are officially imposed, the statutory procedures, such as public review, must be completed.
The U.S. unilaterally asserted that all the partner countries on the list have significant loopholes in their legislation or implementation of laws related to forced labor, making it impossible to control the inflow of illegal goods into the U.S. market at the source.
Tariff details: Two-tier tariff rates + exemption clauses; textiles subject to "exchange conditions".
In terms of tariff classification, the US adopts a two-tiered tariff standard: goods imported into the US from 45 economies, including China, India, Japan, and Brazil, are subject to a uniform 12.5% tariff.
The 10% benchmark tariff applies to 16 countries and regions, including Canada, the European Union, the United Kingdom, Mexico, and Argentina. The US says the latter have introduced some corrective measures or made relevant written commitments.
Meanwhile, beef, coffee, tomatoes, and other products received tariff exemptions. The U.S. also included supplementary clauses that if trading countries purchase sufficient quantities of U.S. textiles, they can apply for tariff reductions on the corresponding categories of exported goods.
The US claim: Using "fair competition" as a pretext to engage in trade protectionism.
The US is trying to find justification for the new regulations. Greer stated that labor regulations vary from country to country, and some manufacturers rely on non-compliant employment practices to reduce production costs, putting US companies that adhere to compliance standards in unfair competition and causing continuous damage to the interests of US workers.
In his statement, Greer stated bluntly that the United States cannot tolerate the distorted competitive environment in global trade and will use tariffs to correct trade imbalances.
Multiple countries refute the claim: Unilateral tariffs face collective opposition, with many questioning whether the US is engaging in "political manipulation."
However, this unilateral imposition of tariffs has been collectively rejected by many countries.
my country explicitly denies the existence of any forced labor issues, directly accusing the United States of using human rights issues for political manipulation and the imposition of arbitrary trade barriers.
The EU stated that the tariffs lacked legal basis and would continue to adhere to the bilateral trade agreement previously reached with the US;
The UK stated that it has implemented comprehensive anti-slavery legislation and continues to improve global supply chain governance;
Indian industry analysts pointed out that the tariffs are essentially a tool for the US to exert pressure, and suggested that India defend itself from a legal perspective and follow Malaysia's example by suspending bilateral free trade negotiations.
Potential concerns: The imminent expiration of temporary tariffs adds uncertainty to the global supply chain.
In fact, this is not the first time Trump has imposed temporary tariffs. After the court overturned the old tariffs, the White House introduced a 10% temporary global tariff, which was originally planned to be raised to 15% later. At present, the temporary tariff will expire in July, and whether it will be extended depends on the vote of Congress.
The implementation of widespread tariffs will inevitably raise US import costs, increase the risk of domestic inflation, and likely lead to retaliatory measures from trading partners, posing a challenge to the stability of the global industrial chain.
Asset impact:
This rule is likely to take effect in late July (the original 10% global temporary tariff expires on July 24), to replace the soon-to-expire temporary tariff.
Looking at past precious metal market trends, the impact of the trade war on precious metals is as follows: if there is no particular panic in the market, precious metals will still move in the direction of market interest rates, and most of the time they will move in the opposite direction to the US dollar index. However, if there is a panic sell-off of assets caused by the trade war, stocks, bonds and currencies are likely to fall across the board, and gold will also fall in tandem.
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